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| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Stacy Rasgon | Bernstein | 9 (0%) |
| Ben Reitzes | Melius Research | 8 (0%) |
| Harlan Sur | JPMorgan | 8 (0%) |
| CJ Muse | Cantor Fitzgerald | 7 (14%) |
| Vivek Arya | Bank of America | 7 (43%) |
| Ross Seymore | Deutsche Bank | 7 (14%) |
| Blayne Curtis | Jefferies | 6 (0%) |
| Joe Moore | Morgan Stanley | 6 (0%) |
| Jim Schneider | Goldman Sachs | 5 (0%) |
| Vijay Rakesh | Mizuho Securities | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Bernstein | 1 | 9 (0%) |
| Melius Research | 1 | 8 (0%) |
| JPMorgan | 1 | 8 (0%) |
| Cantor Fitzgerald | 1 |
| 7 (14%) |
| Bank of America | 1 | 7 (43%) |
| Deutsche Bank | 1 | 7 (14%) |
| Jefferies | 1 | 6 (0%) |
| Goldman Sachs | 2 | 6 (0%) |
Broadcom delivered a blowout quarter, with total revenue reaching a record $22.2 billion, up 48% year on year, powered by AI semiconductor revenue of $10.8 billion that grew 143%. Profitability scaled with the top line: operating margin hit a record 67%, GAAP operating income rose 52% to a record $14.9 billion, and GAAP EPS reached $1.91. The standout signal was demand visibility, AI bookings of over $30 billion against $10.8 billion shipped extended order visibility to 2028, backed by multi-gigawatt commitments from Anthropic, OpenAI and Meta. Management quantified full-year fiscal 2026 AI semiconductor revenue at $56 billion (up roughly 180%) for the first time and reiterated a fiscal 2027 AI target in excess of $100 billion, while guiding Q3 consolidated revenue to $29.4 billion, up 84% year on year. Non-AI semiconductors (up 6%) and infrastructure software (up 9%, with 17% ARR growth) added steady support beneath the AI surge.
Cloud & AI | Revenue Growth | Competitive Dynamics | Guidance Reliability | Innovation & R&D | Demand | Margin | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 10 | 7 | 2 | 2 | 1 | 2 | 1 | |
| 2025Q1 | 10 | 4 | 5 | 4 | 3 | 1 | ||
| 2025Q2 | 13 | 8 | 7 | 5 | 5 | 1 | 2 | |
| 2025Q3 | 9 | 9 | 7 | 4 | 3 | 2 | 1 | |
| 2025Q4 | 11 | 7 | 4 | 4 | 3 | 1 | 1 | 2 |
| 2026Q1 | 9 | 6 | 6 | 3 | 5 | 1 | 1 | |
| 2026Q2 | 13 | 1 | 2 | 2 | 5 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Cloud & AI | 10 | 10 | 13 | 9 | 11 | 9 | 13 |
| Revenue Growth | 7 | 4 | 8 | 9 | 7 | 6 | 1 |
| Competitive Dynamics | 2 | 5 | 7 | 7 | 4 | 6 | 2 |
| Guidance Reliability | 2 | 4 | 5 | 4 | 4 | 3 | 2 |
| Innovation & R&D | 1 | 3 | 5 | 3 | 3 | 5 | |
| Demand | 1 | 1 | 2 | 1 | 5 | ||
| Margin | 2 | 2 | 1 | 1 | 1 | 1 | |
| Capex Investment | 1 | 2 | 1 |
What AVGO and other companies said about each other on FY2026 Q2 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“we collaborated with Broadcom on the industry's first public interoperability demonstration of ultra Ethernet consortium specifications”
Keysight collaborated with Broadcom on the first public interoperability demo of Ultra Ethernet Consortium specs, a step toward production-ready AI Ethernet fabrics.
“we believe now we are the largest OEM partner of Broadcom in the networking space.”
HPE describes itself as Broadcom's largest networking OEM partner, a positive signal for Broadcom's networking-silicon demand from HPE's growing AI networking business.
“This release adds heterogeneous compute support across GPUs, and CPU architectures. Including AMD, Intel, and NVIDIA platforms.”
VMware Cloud Foundation 9.1 supports NVIDIA GPU platforms for AI and virtualized workloads, keeping NVIDIA silicon integrated in enterprise private-cloud stacks.
“This release adds heterogeneous compute support across GPUs, and CPU architectures. Including AMD, Intel, and NVIDIA platforms.”
VMware Cloud Foundation 9.1 adds heterogeneous compute support for Intel platforms, keeping Intel processors validated in enterprise private-cloud deployments.
“This release adds heterogeneous compute support across GPUs, and CPU architectures. Including AMD, Intel, and NVIDIA platforms.”
VMware Cloud Foundation 9.1 now supports AMD platforms for heterogeneous compute, keeping AMD silicon validated in enterprise private-cloud environments.
“With Apollo and Blackstone and other leading investors to deploy more than 20 gigawatts of compute capacity through 2020.”
Blackstone is named as a leading investor partner in Broadcom's AI XPU compute-capacity platform, reflecting its involvement in AI infrastructure financing.
“With Apollo and Blackstone and other leading investors to deploy more than 20 gigawatts of compute capacity through 2020.”
Apollo is an anchor financing partner in Broadcom's AI XPU platform aimed at deploying 20+ gigawatts of compute, positioning Apollo in large-scale AI infrastructure financing.
“For Meta in April, we announced a partnership to deliver multiple generations of MTIA X XPUs. And under this agreement, we expect to deploy 3 gigawatts through the end of 2028.”
Meta is deploying multiple generations of its MTIA XPUs via Broadcom, up to 3 gigawatts through 2028, reflecting Meta's sustained custom-AI-silicon investment.
“For OpenAI, we have delivered silicon and we are on track for production late 2026. We have a contractual commitment to deploy 1.3 gigawatts in 2027 as part of the larger 10 gigawatts by 2029 agreement we announced last year.”
OpenAI has a contractual commitment for 1.3 gigawatts of Broadcom compute in 2027 within a 10-gigawatt-by-2029 program, signaling OpenAI's large custom-silicon compute plans.
“For Anthropic, as you know, For 2026, we are providing access to Broadcom TPU based compute of over 1 gigawatt In April, we entered into an agreement to enable Anthropic to access another 5 gigawatts of next generation TPU based compute beginning in 2027.”
Anthropic is committing to over 1 gigawatt of Broadcom TPU compute in 2026 and another 5 gigawatts from 2027, indicating a very large scaling of Anthropic's compute footprint.
“with Google, we announced April that we entered into a long term agreement to develop and supply multiple generations of TPUs and AI networking.”
Broadcom describes a multi-generation TPU and AI-networking supply agreement with Google, signaling Google's continued heavy custom-silicon build-out with Broadcom as supplier.
Calendar quarter Q2 2026Earnings call Jun 3, 2026
FY2026 Q2 in brief
Broadcom delivered a blowout quarter, with total revenue reaching a record $22.2 billion, up 48% year on year, powered by AI semiconductor revenue of $10.8 billion that grew 143%.
Newest quarter FY2026 Q3 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for Broadcom Inc. (AVGO), FY2026 Q2: 10/10. Scores: Broadcom Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: AVGO daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
GAAP revenue YoY +47.9% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $14.05B | +51.2% | $0.90 | +8.4% | 64.1% | 32.9% | 30.8% | $5.48B |
| FY2025 Q1 | $14.92B | +24.7% | $1.14 | +307.1% | 68.0% | 42.0% | 36.9% | $6.01B |
| FY2025 Q2 | $15.00B | +20.2% | $1.03 | +134.1% | 68.0% | 38.8% | 33.1% | $6.41B |
| FY2025 Q3 | $15.95B | +22.0% | $0.85 | +312.5% | 67.1% | 36.9% | 26.0% | $7.02B |
| FY2025 Q4 | $18.02B | +28.2% | $1.74 | +93.3% | 68.0% | 41.7% | 47.3% | $7.47B |
| FY2026 Q1 | $19.31B | +29.5% | $1.50 | +31.6% | 65.6% | 45.0% | 38.1% | $8.01B |
| FY2026 Q2 | $22.19B | +47.9% | $1.91 | +85.4% | 67.2% | 49.0% | 42.0% | $10.26B |
| FY2026 Q3 | $29.59B | +85.5% | $2.68 | +215.3% | 69.1% | 53.9% | 44.2% | $13.66B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
AVGO Broadcom Inc. | 10 | +47.9% | |
| ADI Analog Devices | 9 | +37.3% | |
| ALAB Astera Labs, Inc. Common Stock | 9 | +104.5% | |
| AMAT Applied Materials | 9 | +11.4% | |
| AMD Advanced Micro Devices, Inc. | 9 | +50.1% | |
| ARM Arm Holdings | 7 | +22.4% | |
| ASML ASML Holding | 10 | +21.3% | |
| CRDO Credo Technology Group Holding Ltd | 10 | +157.0% | |
| INTC Intel Corporation | 8 | +25.4% | |
| KLAC KLA Corporation | 8 | +15.2% | |
| LRCX Lam Research | 9 | +30.0% | |
| MCHP Microchip Technology | 9 | +38.0% | |
| MPWR Monolithic Power Systems | 10 | +47.6% | |
| MRVL Marvell Technology | 10 | +27.6% | |
| MU Micron Technology, Inc. | 9 | +345.7% | |
| NVDA NVIDIA Corporation | 9 | +85.2% | |
| NXPI NXP Semiconductors | 9 | +19.5% | |
| ON ON Semiconductor | 8 | +9.2% | |
| Q Qnity Electronics, Inc. | 10 | +22.1% | |
| QCOM Qualcomm | 3 | -4.0% | |
| SWKS Skyworks Solutions | 3 | -3.1% | |
| TER Teradyne | 9 | +103.9% | |
| TSM Taiwan Semiconductor Manufacturing Company Limited | 9 | +36.0% | |
| TXN Texas Instruments | 9 | +22.8% |